International real estate advisor Savills, on behalf of Atlantic Property Developments, has acquired 4-6 Queen Street in Cardiff from a private property company for £1.7 million.
Recently let to Starbucks on a new 10 year lease, the retail unit is in a prime location in the heart of the city with nearby stores including Primark, M&S, Trailfinders, Waitrose and Santander. The building, set over a ground and two upper floors, is occupied by Starbucks following a major refurbishment.
Ross Griffin, investment director at Savills Cardiff, comments: “We are delighted to have secured the prime retail lot on Queen Street for our client. The property is situated in the heart of town, close to the main shopping centre and retail thoroughfare and as such benefits from high footfall all year round.”
Craig Davies Director of Atlantic Venture Capital, comments: “We are pleased to have secured the investment in an off market transaction with the attractive income stream to the excellent covenant fitting perfectly with our investment strategy.”
Fawcett Mead advised the Vendor.